Quote:
Originally Posted by VenusHalley
So you get automatically offered credit card in the USA?
I got a debit card where I cannot go into red number and i would have to have special kind of account to be able to do that...
it's actually bit sketch to borrow here money "'cause I want". Yes, there are loan sharks, but those are evil... and well in many cases illegal.
I guess that's why never understood on how it's possible to spend so much while manic. My bank would send me big **** you once i reached a zero.
it seems the systems is exploiting people with bad urges, eh.
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No, you are not automatically offered a cc, but it is easy enough to get one. And once you have a constant stream of income, very easy. The system clearly exploits people with bad urges.
You do not want to apply to too many credit card companies though, because each application creates and "inquiry" on your record and that counts against you. So it is at the same time good to have many cc, but applying for each additional one may have a negative effect, and you have to balance these two considerations in order to arrive at the best possible credit score for you. The same applies to asking for a credit line increase: if say Discover increases my credit line, my usage percentage or credit utilization ratio (there is an exact industry term for it but I am too lazy now to look it up) would fall which is beneficial for the credit score but the credit inquiry that the application would create is detrimental, and on balance I think it would be negative, so I do not apply for credit line increases.